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Home Equity Line of Credit

Build A Better Life With Your Home’s Equity!

Looking for a Home Equity Line of Credit (HELOC) in southwest Wisconsin? WCCU makes it easy to access your home’s equity for renovations, debt consolidation, and other major expenses with flexible terms and competitive rates.

Flexible funds for home projects & more!

  • Kitchen Remodels
  • Replace Windows
  • New Roof
  • Pay for College
  • Consolidate Debt
  • Unexpected Expenses
  • New Vehicle
Start Your HELOC Journey Here!

Great Rates! Great Terms! APR* As Low As Prime Minus 1.5%

  • Monthly Payment = $1.75 per $100 borrowed ($50 min. payment)
  • 1st Draw Minimum: $1,000
  • Additional Draws: $300 thereafter
  • Available for first or second lien
  • Establish a credit up to 90% of the equity of your home (Equity = Appraised Value minus Amount Owed)
  • Transfer funds as needed via WCCU Online Banking or by contacting any WCCU Branch.

Home Equity Line Of Credit: Frequently Asked Questions

 Members commonly use a Home Equity Line of Credit (HELOC) for:

  • Home improvements and renovations
  • Debt consolidation (such as credit cards or personal loans)
  • Emergency expenses
  • Education costs
  • Major purchases or life events

Because HELOCs often have lower rates than unsecured loans, they can be a flexible financing option.

A HELOC is a revolving line of credit, while a home equity loan is a lump-sum loan.

  • HELOC: Borrow as needed, variable rate, flexible payments
  • Home equity loan: Fixed amount, fixed rate, fixed payments

A HELOC works more like a credit card, while a home equity loan works more like a traditional loan.

A HELOC can be a good option if you:

  • Have equity in your home
  • Need flexible access to funds over time
  • Want a lower-rate alternative to credit cards

However, because your home is used as collateral and rates are variable, it’s important to consider your financial situation and long-term plans.

HELOC rates are variable and typically based on the Wall Street Journal Prime Rate.

Your Specific rate will depend on factors like:

  • Credit score
  • Loan-to-value ratio
  • Lien position

Contact us for current rates and personalized options.

The timeline can vary, but most HELOCs are completed within a few weeks, depending on:

  • Application completness
  • Property evaluation requirements
  • Underwriting review

HELOCs may include closing costs such as:

  • Appraisal or property valuation
  • Title work
  • Recording fees

WCCU may offer promotions that reduce or cover some of these costs, be sure to ask about current offers when speaking with your WCCU Mortgage Lending Officer.

Yes, you can typically pay off a HELOC early without penalty. Making extra payments can help reduce interest costs over time.

After the draw period ends, you enter the repayment period:

  • You can no longer withdraw funds
  • Payments will increase to include both principal and interest
  • The remaining balance is paid off over a set term

Yes, a HELOC can impact your credit:

  • Applications may result in a credit inquiry
  • Balances affect your credit utilization
  • On-time payments can help build credit

You can apply by:

  • Visiting a WCCU Branch
  • Contacting a member of our Mortgage Lending Team
  • Completing an online application
Apply for a HELOC

*APR = Annual Percentage Rate. Variable APR will be based upon your creditworthiness, lien position, and loan-to-value and is indexed to The Wall Street Journal Prime. APR is subject to change monthly but cannot exceed 18% or go below 4.0 %. Minimum monthly payment will be (a) $50 or (b) $1.75 per $100 borrowed. Check with your tax advisor to determine if your HELOC interest payments are tax-deductible. Membership eligibility required. NMLS ID #486034.